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    Refiners Should Not Be Making Above Normal Profits- Biden

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    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    TotalEnergies starts up its fourth solar power plant in Japan

    ACCIONA Wind Energy

    ACCIONA Energia to supply 100% renewable energy to Grupo Violas in Portugal

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WindEurope Believes Renewables Investors May Avoid Europe

in News, Renewable Power
WindEurope Believes Renewables Investors May Avoid Europe

According to a statement released by WindEurope on Friday, renewable investments will be at risk if EU energy ministers choose to disregard the EU-wide renewables price cap by imposing additional tariffs on electricity producers.

The EU energy ministers will decide on new guidelines for income caps for the production of infrastructure power on September 30th. The European Commission proposes to temporarily cap the price at which low-carbon electricity businesses sell power at €180 per megawatt-hour (MWh) as part of its emergency plan to combat rising energy prices.

Not only would wind generation be subject to this cap, but also solar, biomass, nuclear, lignite, and a small amount of hydropower.

According to WindEurope, the ruling will make it considerably more difficult for Europe to recover from its current energy crisis. Governments must take action to assist households and companies in paying their energy costs. However, what is determined today may make the energy crisis worse, cautioned WindEurope.

Europe needs significant investments in domestic renewable energy sources, according to WindEurope. Everyone concurs with this, and it is the way out of the dilemma. However, as it is, the emergency legislation will halt a lot of investments in renewable energy. The regulation’s intended goal was to impose a limit on all infrastructure power generation across the EU. However, as it is, the regulation has no effect on national governments’ ability to impose additional taxes and other disorganised policies on various forms of energy production, according to the statement.

In addition to the EU’s extraordinary measures, some governments are already preparing new taxes. Additionally, these additional measures impose taxes on the overall revenue rather than the profits of electricity producers. This will freeze investments in green energy, the group said.

Investors will merely move on. Consider the US, where the Inflation Reduction Act offers significant tax credits for investments in renewable energy sources. This is still avoidable, but national governments must pay attention to those who are developing renewable energy sources, it said.

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